Unit trust provider the Unit Trust of Fiji (UTOF) has declared a record interim dividend distribution of $9.19 million for the six months from January to June – the largest interim dividend payout in its history.
That comprises $8.46m for the Income and Growth Fund and $728,193 for the Income Fund
UTOF chairperson Lavinia Kaumaitotoya made the announcement in Suva yesterday and attributed the achievement to their portfolio growth, quality of the investments made over a period, and the returns generated from their investment companies.
“The record payout reflected the quality of UTOF’s assets, the strength of the companies it invests in, and its ability to responsibly manage the wealth entrusted by more than 126,000 account holders,” Ms Kaumaitotoya said.
For the Income and Growth Fund, UTOF announced a dividend rate of 4.00 cents per unit for the six-month period ending June 30; and represents a total distribution of $8,461,877 to investors in this Fund.
For the Income Fund, it has declared an annualised dividend rate (ADR) of 3.25 per cent, equating to a total distribution of $728,193 for the six months period.
“This dividend declaration reflects the quality of our investment portfolio and the effectiveness of our long-term investment strategy.
“Through careful asset selection, active portfolio management, strategic diversification, and disciplined capital allocation, UTOF has consistently enhanced returns while maintaining portfolio stability.
“The result is a strong and sustainable earnings base that continues to benefit our investors year after year.”
Meanwhile, Ms Kaumaitotoya said UTOF remained in a strong financial position, with total income available for distribution exceeding $19.3m across both funds during the first six months of the year.
Following the interim declaration, she said more than $10.13m would be retained and carried forward to strengthen future distributions and support strategic growth initiatives.
“This strong financial performance reflects not only the quality of our portfolio but also the discipline of our investment processes and the effectiveness of our governance framework.”
She said the dividend payout was proof that disciplined investment management, strong governance, quality investments and unwavering fiduciary stewardship delivered meaningful outcomes for investors.
At present, UTOF has a total of 126,421 account holders.
The interim dividend was paid out yesterday.
Unit Trust of Fiji Board Chair Lavinia Kaumaitotoya during the Interim Dividend Rates announcement at their head office in Suva, yesterday.
Picture: KARISHMA KUMAR
